Lactose-Free Cheese Market to Grow 8%
Technavio's latest analysis of the lactose-free cheese market predicts that it will grow at a CAGR of more than 8 percent in the next five years. The category accounted for $381.5 million globally in 2016, and is expected to grow to $567.6 million by 2021. The growth will be largely due to the perceived health benefits of lactose-free cheese, which include the reduction of bloating and digestive issues that can be caused by consuming cow’s milk.
Manjunath Jagannath, a lead analyst from Technavio, specializing in research on the food sector, says, “Many drivers are contributing to the growth of the global lactose-free cheese market such as the increasing level of lactose intolerance among many being the key factor. New product launches and positive trends like the increasing focus of players on promotional and marketing initiatives will also impact the market's growth positively in the coming years.”
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